Properties Magazine March 2017 : Page 78

Landscapes + Hardscapes Growing Markets A look at trends in the landscaping industry By Deonta Smith IBISWorld Inc. andscape enhancement services are considered one of the most effective ways to boost a facility or structure’s value. Though the chief benefits of landscaping services are primarily financial (e.g. increasing the value of a property, enticing prospective buyers and reducing heating and cooling costs), there are also numerous health, environmental and social advantages associated with these services. L To examine these benefits, here’s a look at demand trends for landscaping service markets. Landscaping to draw the eye Businesses such as retailers, hotels and amusement parks seek landscape architecture and design service pro-viders for their in-depth knowledge of grading, drainage and horticultural and structural spacing to plan and create useful, attractive arrangements of natural and constructed elements that conform to governing codes and regulations. Landscape architecture and design services are good for boost-ing property values, as well as reducing storm water runoff during periods of high precipitation, controlling tem-perature extremes and creating an appealing environment to reduce stress levels (e.g. terrain reshaping, installation of mood lighting or bodies of water). For residential building developers, homeowners and home building con-struction firms specifically, landscaping architecture and design are prized ser-vices. Coming out of the housing crisis, an abundance of reduced-price and fore-closed homes created a buyer’s market. As a result, from 2014 to 2017, stakehold-ers have been aggressively buying these homes and remodeling them to boost resale value. However, as home price Proudly Serving Northeast Ohio growth has slowed in recent years, home-owners have been encouraged to identify more creative ways to enhance a home’s value; one proven practice has been to incorporate unique landscape designs around the structure. As these trends have pushed up demand for landscaping architecture and design services, firms have had the flexibility to raise prices at an estimated annualized rate of 2.0%. IBISWorld expects prices to rise at the same rate from 2017 to 2020. Maintenance to keep the attention According to the National Gardening Association, more than 75% of house-holds participate in some form of landscape maintenance. This includes seasonal cleanups, mowing, plant fer-tilization, weed control, cultivation activities and a host of other landscape-related projects. Consistent maintenance Properties | March 2017 &#0d;ѴѴŊ";ub1;&#02;&#15;-m7v1-r;&#02; ;vb]m&#02;Ň&#02;&#07;omv|u1ঞom Maintenance | Snow & Ice &#02;ĺr;u=;1ঞomѴ-m7v1-r;vĺ1ol 78